Allergan Inc, which is fending off an acquisition by Valeant Pharmaceuticals Inc, said on Monday that it had been approached by another party regarding a potential transaction. The company is Actavis Plc, a source familiar with the situation said.Allegan, which makes Botox, had said it was looking for acquisitions but has not previously said it had been contacted about a deal. It made the disclosure in a regulatory filing on Monday.Valeant and Pershing Square Capital Management made an offer, now worth $55 billion, for Allergan at the end of April. Pershing Square owns nearly a 10 percent stake in Allergan.
Shares of ACT traded higher by 1.49% or $3.627/share to $246.37. In the past year, the shares have traded as low as $153.42 and as high as $249.94. On average, 2407010 shares of ACT exchange hands on a given day and today's volume is recorded at 836819.
Allergan, Inc. is a multi-specialty health care Company focused on developing and commercializing pharmaceuticals, biologics, medical devices and over-the-counter products. Shares of AGN traded higher by 1.38% or $2.63/share to $192.69. In the past year, the shares have traded as low as $88.34 and as high as $192.98. On average, 2403670 shares of AGN exchange hands on a given day and today's volume is recorded at 1521167.
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